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Bitcoin price prediction for 2021 is expected to soar past $37K by the end of the year on the back of increased regulatory clarity and a greater likelihood of an ETF product launch. The price of Bitcoin has gone through a sustained bull run, growing from around $10,000 at the start of the year to currently trading at $30,400. Factors such as institutional adoption, increasing confidence of investors, strong external demand, and the hype surrounding a potential Bitcoin ETF approval are likely to assist in propelling the price of Bitcoin further upward.
Additionally, these institutional inflows will be a major catalyst for a market rally, pushing Bitcoin past the $37K benchmark in 2021. Bitcoin’s future valuation will also be strongly influenced by the outcome of the regulatory debates which are taking place around the world. Countries such as India, US, and Japan are already in the process of introducing clear regulatory frameworks. As more nations adopt a formal stance on cryptocurrency trading and investing, Bitcoin will enjoy greater acceptance, reliability, and perceived safety in the eyes of the general public.
Ultimately, the state of the global economy, technology advancements, geopolitical instability, and the central banks’ increasing interest in blockchain technology are all set to shape Bitcoin’s trajectory for 2021. Keeping these factors in mind, we can expect to see Bitcoin stay healthy and breach the $37K mark on the back of retail and institutional investor support.
